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Will my premium amount increase after I have purchased a policy?

The insurance company cannot increase the premium at a later stage (unless you have defaulted on your premium dues, for a long period).

04 Dec 2008

An insurance policy is a contract or an agreement that you enter into with the insurance company. The premium is a fixed price that you are willing to pay in order to remain insured for the term of the policy. Thus, the insurance company cannot increase the same at a later stage (unless you have defaulted on your premium dues, for a long period).